Axa Raises Position in Sunstone Hotel Investors, Inc. (SHO)

Axa increased its position in shares of Sunstone Hotel Investors, Inc. (NYSE:SHO) by 163.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 380,854 shares of the real estate investment trust’s stock after acquiring an additional 236,100 shares during the period. Axa owned about 0.17% of Sunstone Hotel Investors worth $6,139,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its holdings in Sunstone Hotel Investors by 6.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,919 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 449 shares during the period. Utah Retirement Systems lifted its holdings in Sunstone Hotel Investors by 17.1% during the 1st quarter. Utah Retirement Systems now owns 12,986 shares of the real estate investment trust’s stock worth $199,000 after buying an additional 1,900 shares during the period. Breton Hill Capital Ltd. lifted its holdings in Sunstone Hotel Investors by 14.9% during the 2nd quarter. Breton Hill Capital Ltd. now owns 13,100 shares of the real estate investment trust’s stock worth $211,000 after buying an additional 1,700 shares during the period. US Bancorp DE lifted its holdings in Sunstone Hotel Investors by 20.9% during the 1st quarter. US Bancorp DE now owns 14,142 shares of the real estate investment trust’s stock worth $217,000 after buying an additional 2,448 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Sunstone Hotel Investors by 4.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,285 shares of the real estate investment trust’s stock worth $219,000 after buying an additional 575 shares during the period.

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Sunstone Hotel Investors, Inc. (NYSE SHO) opened at 15.82 on Friday. Sunstone Hotel Investors, Inc. has a 52 week low of $12.14 and a 52 week high of $16.86. The stock has a 50 day moving average price of $15.75 and a 200-day moving average price of $15.63. The firm has a market capitalization of $3.56 billion, a P/E ratio of 20.52 and a beta of 1.17.

Sunstone Hotel Investors (NYSE:SHO) last posted its earnings results on Tuesday, August 1st. The real estate investment trust reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. The company had revenue of $318.80 million during the quarter, compared to analyst estimates of $316.96 million. Sunstone Hotel Investors had a net margin of 15.41% and a return on equity of 7.70%. Sunstone Hotel Investors’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. Analysts anticipate that Sunstone Hotel Investors, Inc. will post $0.69 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Saturday, September 30th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, September 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.26%. Sunstone Hotel Investors’s dividend payout ratio is currently 25.64%.

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Several brokerages have commented on SHO. BidaskClub downgraded Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Canaccord Genuity lifted their target price on Sunstone Hotel Investors from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research downgraded Sunstone Hotel Investors from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $17.00 target price (up from $16.00) on shares of Sunstone Hotel Investors in a report on Friday, June 16th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $15.80.

Sunstone Hotel Investors Profile

Sunstone Hotel Investors, Inc operates as a self-managed and self-administered real estate investment trust. The Company’s primary business is to acquire, own, asset manage and renovate primarily urban and resort upper upscale hotels in the United States. It operates through hotel ownership segment. It owns primarily urban and resort upper upscale hotels in the United States.

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